The stock of Editas Medicine Inc (NASDAQ:EDIT) reached all time low today, Nov, 3 and still has $10.84 target or 13.00% below today’s $12.46 share price. This indicates more downside for the $427.19 million company. This technical setup was reported by Barchart.com. If the $10.84 PT is reached, the company will be worth $55.53 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 4.89% or $0.64 during the last trading session, hitting $12.46. About 400,546 shares traded hands or 25.32% up from the average. Editas Medicine Inc (NASDAQ:EDIT) has declined 64.50% since April 1, 2016 and is downtrending. It has underperformed by 65.71% the S&P500.
Analysts await Editas Medicine Inc (NASDAQ:EDIT) to report earnings on November, 8. After $-0.54 actual EPS reported by Editas Medicine Inc for the previous quarter, Wall Street now forecasts 20.37% negative EPS growth.
According to Zacks Investment Research, “Editas Medicine, Inc. is a genome editing company. It focuses on translating its genome editing technology into a novel class of human therapeutics which enable precise and corrective molecular modification to treat diseases. Editas Medicine, Inc. is based in Cambridge, Massachusetts.”
More notable recent Editas Medicine Inc (NASDAQ:EDIT) news were published by: Quotes.Wsj.com which released: “News Editas Medicine Inc.EDIT” on January 16, 2015, also Bostonglobe.com with their article: “Editas Medicine raises $94.4 million in year’s first IPO” published on February 02, 2016, Marketwatch.com published: “/quotes/zigman/3870025/realtime” on January 06, 2016. More interesting news about Editas Medicine Inc (NASDAQ:EDIT) were released by: Ibtimes.com and their article: “Google-Backed Startup Editas Medicine Becomes First Gene Editing Company To …” published on January 05, 2016 as well as Fortune.com‘s news article titled: “The Hottest IPO of 2016 Is Crashing” with publication date: March 09, 2016.
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